Most Acala Services Are Still Unavailable Twelve Days After The Attack
The majority of Acala‘s services are still not available, the project announced today.
Most Acala services are not available
More than a week after being the victim of an exploit that caused its stablecoin to collapse, ACA is still working to resume operations.
The project said today that “many of the services have been paused… including XCM transfer out.” This means that cross-chain transfers between ACA and other Polkadot parachains are not currently available.
Other services are also not operating. Most token transfers, usage of bridge services, creation of the aUSD stablecoin, token swaps, quick unstaking, and participation in the protocol’s many reward features are all prohibited for users.
There are just three services that run smoothly. The project’s native ACA coin is used in the first operational service, which handles simple on-chain transactions. The two remaining active services, liquid DOT staking and typical unbound period unstaking, both deal with staking and are currently functioning normally.
Attackers struck Acala on Sunday, August 14. The criminal was able to produce at least 1.28 billion aUSD tokens at that moment.
A little number of the incorrectly created coins were traded by the attacker for other assets. The neighborhood rapidly became aware of the situation, and as a result, they “urgently voted” to freeze the Acala chain and its services.
Acala has been able to locate, collect, and burn around 3 billion aUSD tokens that were incorrectly issued because to the freeze.
Acala stated that it is still attempting to locate cash on August 24. According to the statement, “70% of the related transactions still required [sic] a trace and this process is still underway.” Individuals who return a substantial sum of money will get a bounty from the enterprise.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Most Acala Services Are Still Unavailable Twelve Days After The Attack
The majority of Acala‘s services are still not available, the project announced today.
Most Acala services are not available
More than a week after being the victim of an exploit that caused its stablecoin to collapse, ACA is still working to resume operations.
The project said today that “many of the services have been paused… including XCM transfer out.” This means that cross-chain transfers between ACA and other Polkadot parachains are not currently available.
Other services are also not operating. Most token transfers, usage of bridge services, creation of the aUSD stablecoin, token swaps, quick unstaking, and participation in the protocol’s many reward features are all prohibited for users.
There are just three services that run smoothly. The project’s native ACA coin is used in the first operational service, which handles simple on-chain transactions. The two remaining active services, liquid DOT staking and typical unbound period unstaking, both deal with staking and are currently functioning normally.
Attackers struck Acala on Sunday, August 14. The criminal was able to produce at least 1.28 billion aUSD tokens at that moment.
A little number of the incorrectly created coins were traded by the attacker for other assets. The neighborhood rapidly became aware of the situation, and as a result, they “urgently voted” to freeze the Acala chain and its services.
Acala has been able to locate, collect, and burn around 3 billion aUSD tokens that were incorrectly issued because to the freeze.
Acala stated that it is still attempting to locate cash on August 24. According to the statement, “70% of the related transactions still required [sic] a trace and this process is still underway.” Individuals who return a substantial sum of money will get a bounty from the enterprise.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Annie
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